Zabka Group S.A. — Earnings Release 2025

Jan 12, 2026

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Luxembourg, 12 January 2026

Full Year 2025 And Q4 2025 Preliminary Sales Results

Current trading

In 2025 preliminary consolidated Sales to End Customers increased by 14.2%, supported primarily by the continued expansion of the store network and Like for Like ("LfL") growth. For the full year 2025 LfL growth in Poland reached 5.3%, in line with the Group's mid-single-digit target.

LfL dynamics in 2025 demonstrated strong performance, driven by differentiated product assortment and a format precisely tailored to meet customers' needs. Despite facing significantly colder weather compared to 2024, which presented notable challenges, the adaptability and customer-focused approach enabled to deliver impressive growth in key convenience categories, proving resilience of the business model.

In the fourth quarter of 2025, the Ultimate Convenience segment (Żabka stores) recorded its strongest quarterly Sales‑to‑End‑Customers growth of the year reaching 13.6%, and showcasing exceptional momentum throughout the network. This growth was primarily fueled by the continued expansion of the store network, further strengthened by robust LfL growth in Żabka Polska stores, which reached 4.8%, an improvement of 0.3 percentage points vs the third quarter of 2025.

	FY25	FY24	Q425	Q424
Preliminary Unaudited Consolidated	31.14	27.28	7.87	6.89
Sales to End Customers (bn PLN)(1),
out of which:
Ultimate Convenience	29.60	26.17	7.46	6.56
New Growth Engines	1.54	1.11	0.41	0.33
Like for Like Growth Poland ("LfL")	5.3%	8.3%	4.8%	7.1%
New store openings	1,394	1,166	267	169
No. of Stores EOP	12,339	11,069
Out of which, Romania	173	60

(1) Sales to End Customers (StEC) is defined as the combined sales generated by both reporting segments: Ultimate Convenience (covers operations of stores under the "Żabka" brand in Poland and real estate operations related directly to the stores) and New Growth Engines (NGE – digital business plus Romania). While not directly equivalent to consolidated revenue, StEC serves as a key performance indicator that reflects the underlying commercial strength of the Group's business model. It is widely used by investors and analysts to assess performance across the grocery retail sector.

New store openings

Delivering on its revised strategic target of opening more than 1,300 stores annually, Żabka Group opened 1,394 new stores in 2025, including 118 in Romania, thereby expanding its network to 12,339 points of sale as of 31 December 2025. In the fourth quarter, the Group opened 267 new stores.

Margin outlook

Zabka Group anticipates that consolidated adjusted EBITDA margin for the FY of 2025 will be in line with expectations and communication so far. Consequently, the latest guidance is maintained, aiming for a modest year on year margin improvement towards the top end of the 12-13% target range.

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Luxembourg, 12 January 2026

Disclaimer

The data presented above are preliminary and forward-looking statements are based on current expectations of future events. The actual results may differ from those expressed or implied by the above statements. Also, the presented data may be subject to review by a certified auditor.

The forward-looking statements herein refer only to this document and its publication date. Unless required by applicable law or regulation, Zabka Group assumes no obligation to update the information contained in this release or notify a reader if any matter stated herein changes or becomes inaccurate.